This Entrepreneur stream is for people who have a funding agreement from a third party for at least AUD200,000 to undertake a complying entrepreneur activity that is proposed to lead to either the commercialisation of a product or service in Australia or the development of a business in Australia.
Applicant/s must be nominated by a state or territory government.
This is a temporary visa. Once you have established business operations in Australia, you can apply for permanent residency through the Business Innovation & Investment (Residence) visa (Subclass 888).
You must have spent at least 2 years in Australia on your Entrepreneur visa and be nominated by a state or territory government to qualify for permanent residency under the subclass 888 visa.
To apply for the Entrepreneur stream you must:
- Under the age of 55 years of age, unless the state and territory government waive this requirement (you must show that your proposed complying entrepreneur activity will be of “exceptional economic” benefit to the nominating state or territory)
- have competent English
- be undertaking or proposing to undertake a complying entrepreneur activity in Australia
- have a genuine intention to continue this activity
What is a Complying Entrepreneur Activity?
A Complying Entrepreneur Activity is an activity that relates to an innovative idea that will lead to the commercialisation of a product or service in Australia, or the development of an enterprise or business in Australia.
The activity related to the following categories will be excluded:
- Residential real estate
- Labour hire
- Purchase of an existing enterprise or a franchise in Australia.
To be considered as a complying entrepreneur activity the following requirements must be met:
- you have one or more legally enforceable agreements to receive funding with a total of at least AUD200 000 from one of the following entities:
- Commonwealth Government agency
- State or Territory Government
- Publicly Funded Research Organisation
- Investor registered as an Australian Venture Capital Limited Partnership or Early Stage Venture Capital Limited Partnership
- Specified Higher Education Provider
The funding agreement must involve a transfer of 10% to the entrepreneurial entity within 12 months from the day the activity starts in Australia.
When you entered into the agreement you hold at least 30% interest in your entrepreneurial entity.
You have a business plan for the entrepreneurial entity noting how your innovative idea will lead to the commercialization of a product or service in Australia or the development of an enterprise or business in Australia.
Business and Investment visas are extremely complex and have extensive requirements. If you are not sure whether you will meet the requirements, we can assist you.
You can book a consultation with our Immigration Lawyers and Migration Agents to discuss your eligibility and options.
The consultation will allow us to gather facts about your situation, and your priorities to customize a unique visa and migration pathway that may be available to you.